7th Pay Commission: SBI unveils cheaper home loans for beneficiaries

To attract the beneficiaries of 7th Pay Commission, SBI has launched cheaper home loan schemes for defence and other government employees with installment tenure extending up to 75 years of age. It will offer two new home loan products ‘SBI Privilege Home Loan’ for government employees and ‘SBI Shaurya Home Loan’ for defence personnel without any processing fee.

“Under the new schemes, employees of central/state governments, defense forces, public sector banks, public sector enterprises of central government and other individuals with pensionable service

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will be offered home loans tailored to their specific needs,” State Bank of India (SBI) said in a statement. The bank said the tailor-made products will help customers purchase a spacious or luxurious home without stretching their post-retirement finances.

The new product includes extending the repayment term till the borrower turns 75 years from the existing 70 years, and also a full waiver of processing fees, it said. There will be a lower EMI burden post retirement and 0.05 per cent concession over the home loan interest. “Benefit of lower interest rate as a concession of 5 bps (0.05 per cent) over the home loan card interest rate is available wherever check-off facility is extended by the government under tie-up arrangement with the bank,” SBI said.

Among others, customers of other banks or financial institutions will have an option to switch over their home loan outstanding balance to SBI. “The launch of ‘SBI Privilege Home Loan’ and ‘SBI Shaurya Home Loan’ products is timed with the notification of 7th Pay Commission recommendations. Surplus income can thus be utilised by government employees and defense personnel towards purchase of new/better house,” SBI said.

SOURCE - indianexpress

7TH CPC - THE GRADE PAY UPGRADED FOR GIVEN POST, LIST IS GIVEN BELOW

UPGRADED THE GRADE PAY FOR GIVEN POST, LIST IS GIVEN BELOW Present Grade Pay and New Higher Grade Pay for the following Posts recommended by 7th Pay Commission

Sl.No	Ministry / Dept	Name of the Post	Present 6cpc Grade Pay (Rs.)	New Grade Pay recommended by 7th Pay Commission (Rs)
1.	Railways	Dietitians	4200	4600
2.	Railways	Senior Dietitians	4600	4800
3.	Railways	Assistant Dietetic Officer	4800	5400 (in PB-2)
4.	Andaman and Nicobar Administration	Junior Radiographer	2000	2800
5.	Railways	Perfusionists	2400	4200
6.	CGHS	Dental Hygienists	2400	4200
7.	Defence	Russian Officers Translators	4600	5400
8.	Defence	Russian Senior Officers Translators	5400	6600
9.	Defence	Russian Editors	6600	7600
10.	Central Sheep Breeding Farm	Sheep Shearer cum Supervisor	1800	2400
11	Indian Postal Service	Inspector	4200	4600
12.	Indian Postal Service	ASPOs	4800	5400
13.	National Archives of India	Assistant Archivists	4200	4600
14.	National Archives of India	Archivists	4600	4800
15.	National Archives of India	Scientific Officer	4600	4800, 5400(12 yrs)
16.	All Ministries	Officers in organised accounts cadres	4800	5400
17.	Dr. RML Hospital	Junior ECG Technician/Junior Cardiac Technician	2400	2800
18.	Andaman and Nicobar Administration	Junior Agriculture Assistant/Junior Soil    Conservation    Assistant	2400	2800
19.	Andaman and Nicobar Administration	Bus Conductors	1800	1900
20.	Mines	Senior Technical Assistants (STAs)	4200	4600
21.		JTA, Store Keeper,	2800	4200
22.		Assistant Store Keeper	1900	2400
23.		Electrical Supervisor	2800	4200
24		Laboratory Assistant	2400	2800
25		Machine Man, Junior Press Assistant	1800	1900
26	CBI	Sub Inspector	4200	4600
27		Inspector	4600	4800
28	Railways	Assistant Station Master (ASM)	2800	4200
29	Railways	Commercial Clerks + Enquiry Cum Reservation Clerks (ECRCs)+Ticket Checking staff (TTEs and TCs)= Commercial and Ticketing Staff	1900  2400	2000  2800
30	Railways	Accounts	4800	5400
31	Railways	Chemical  and  Metallurgical  Assistants	4600	5400
32	Shipping	Head Light Keeper	4200	4600
33	Shipping	Navigational Assistant Gr.II	2800	4200
34	Shipping	Navigational Assistant Gr.III	2400	2800
35	Shipping	Light House Attendant	1800	1900
36	Statistics	Director General, Central Statistics Office	HAG+	L17
37	Textiles	Technical Officers	4200	4600
38	Textiles	Assistant Director Gr. II (Technical)	4600	4800
39	Town and Country Planning Organisation	Planning Assistants	4200	4600
40	Central Water Commission (CWC)	Senior Research Assistant	4200	4600
41	Central Water Commission (CWC)	Assistant Research Officer	4600	4800
42	Central Ground Water Board (CGWB)	Technical Operator (Drilling)	1800	1900
43	National Academies	heads of National Academies		Apex Scale Rs.80000
44	Intelligence Bureau (IB)	ACIO-II	4600	4800
45	Intelligence Bureau (IB)	ACIO-I	4200	4600

KNOW ABOUT - Taxable and Non-Taxable Elements of Pay and Allowances

List of Taxable Elements of Pay

Taxable Element of Pay : Provisions are applicable equally for monthly payment of Allowances as well as arrears for the said head of Pay/Allowances.

Issue of Pension Slip to Defence Pensioners/family pensioners: PCDA

Office of the Principal Controller of Defence Accounts (Pension),

Draupadi Ghat, Allahabad-211014

Circular No. 184

No. AT/Tech/70-XXIV

Dated: 06.06.2016

Sub: Issue of Pension Slip to Defence Pensioners/family pensioners.

Attention is drawn to RBI letter No. DGBA.GAD. N o. H-10975/45.05.031/2006-07 dated January 9, 2007 instructing all the agencies banks to issue pension slip to all the Armed Forces Personnel/Defence Civilian Pensioners including family pensioners at the commencement of pension and thereafter whenever there is a change in the quantum of pension. RBI’s above instruction was also forwarded by this office to all banks vide this office circular N o. 128 dt. 13.07.2007.

Besides above, whenever any circular was issued by this office after 6th CPC implementation, Pension Disbursing Agencies were requested to send intimation regarding disbursement of revised pension to this office in the format prescribed with the circular concerned. Pension Disbursing Agencies were simultaneously requested to provide invariably a copy of the said format to the pensioner concerned. A brief details of circulars issued and format prescribed for intimation of revision to be carried out by PDA to this office as well as pensioners is given below.

Sl.No.	Circular No. & date	Proforma
1.	397 dt.18.11.2008	Annexure – IV
2.	430 dt.10.03.2010	Annexure - C
3.	501 dt. 17.01.2013	Annexure - D
4.	502 dt. 17.01.2013	Annexure - C
5.	555 dt. 04.02.2016	Annexure - B
6.	57 dt. 17.09.2008	Annexure - II

However, it has been brought to the notice of this office that Pension Disbursing Agencies are not providing the details of revised pension/family pension to the pensioners/family pensioners. Thereby due to lack of knowledge pensioners are not sure about correctness of the amount of the arrears being paid to them and most of them have a sense of suspicion against the revision.

To overcome above suspicion, it is requested that an explanatory sheet as per the enclosed format may be provided to all defence pensioners/family pensioners invariably.

(Abhishek Singh) Asst.CDA (P) Authority: http://pcdapension.nic.in/

CG - PAY RELATED ORDERS AND CIRCULARS

PAY RELATED ORDERS AND CIRCULARS ISSUED BY E-III(A) BRANCH 

1. Autonomous Bodies
2. Bonus
3. Career Advancement
4. Caretaking Allowance
5. CCS (Revised Pay) Rules, 2008
6. Court Cases - Guidelines
7. Deputation/Foreign Service
8. Efficiency Bar
9. Fixation of Pay
10. General Orders
11. Increment/Stagnation Increment
12. Interim Relief
13. Non-Practicing Allowance
14. Qualification Pay
15. Re-Employment
16. Selection Grade
17. Small Family Norms
18. Special Pay
19. Stepping up of Pay
20. Terms of Reference